20 May 2012
Dear experts, Salaried employee was occupied a ready to occupy house, he was avail a housing loan from LIC. The date of possession of the house is before the date of loan taken, that means, purchase of house by hand loans from friends, after that he get the loan from LIC and paid to friends. These are occur in same financial year. Please let me know the consequences regarding exemption of interest and repayment of housing loan.
CAclubindia
